In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Teck Resources (TECK.B). Analyst Orest Wowkodaw from Scotiabank remains bullish on the stock and has a C$44 price target.
According to TipRanks.com, Wowkodaw is a 5-star analyst with an average return of 16.0% and a 50.4% success rate. Wowkodaw covers the Basic Materials sector, focusing on stocks such as Teck Resources Limited, Taseko Mines Limited, and Capstone Mining Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Teck Resources with a C$44.93 average price target, implying a 57.4% upside from current levels. In a report issued on December 6, TD Securities also upgraded the stock to Buy with a C$45 price target.
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Based on Teck Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of C$3.21 billion and net profit of C$1.28 billion. In comparison, last year the company earned revenue of C$3.13 billion and had a net profit of C$600 million.
Teck Resources Ltd. is a diversified resource company, which engages in the mining and mineral development of copper, steelmaking coal, zinc, and energy properties. The firm also produces germanium and indium. It opertes through the following business segments: Steelmaking Coal, Copper, Zinc, Energy, and Corporate.
The company’s shares closed on Friday at C$28.55.
